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Hall: EU announces 22 billion euro boost for innovation

The European Commission has announced that it will be teaming up with the private sector and national governments to invest 22 billion euros in key sectors over the next seven years. The funding will be part of the new EU research and innovation programme “Horizon 2020,” which is due to be voted on in the European Parliament in September.

“Investing in innovation is the key to delivering sustainable jobs to the UK while promoting the transition to a greener, more competitive economy.”

“EU research programs will help the UK to remain at the forefront of cutting-edge research, bringing together companies, universities and innovative small businesses to tackle some of the pressing challenges we face today.”

“Planned projects include research into new antibiotics for drug-resistant bacteria,the promotion of healthy, active ageing, and the development of cleaner, quieter aircraft and alternatives to fossil fuels.”

“This funding will not only give a vital boost to innovation and jobs, it will lay the foundations for future growth, ensuring that the UK is a global leader when it comes to developing cleaner and more efficient technologies.”

Notes to Editors:

The European Parliament and Council reached an agreement on the next EU research and innovation programme, Horizon 2020, last week. Over the past five years, the current EU framework programme (FP7) has brought over £3 billion in science funding to the UK , supporting cutting-edge research in areas such as stem-cell therapy, clean energy and nano-technology.

Horizon 2020 aims to leverage additional money from industry and EU Member States through public-private partnerships. The goal of the partnerships is to provide solutions to major challenges such as reducing carbon emissions or providing the next generation of antibiotics. They will also help increase the competitiveness of EU industry, including SMEs, and create new jobs in fast growing and emerging sectors. More details can be foundhere.